Rebuilding Your Income Streams During Divorce
Divorce doesn’t just alter your relationship status—it often shakes your financial foundation. If you’ve been sharing household income, raising children full-time, or relying on a single provider, the idea of standing on your own financially can feel overwhelming. But this chapter of life can also be an opportunity to reassess, reclaim, and rebuild your income streams with purpose and confidence.
Start by Knowing Where You Stand
Before you can rebuild, it’s essential to understand your financial reality. List every source of income you currently have—employment, alimony, child support, side gigs, dividends, or rental income. Then assess what’s likely to continue, what might change, and what gaps you need to fill.
Even if you’re receiving support payments, these may not be long-term solutions. Courts are granting alimony less frequently, and even child support can fluctuate based on custody arrangements or your ex’s employment status. That’s why creating sustainable income of your own is so important.
Explore Immediate Income Options
Rebuilding income doesn’t always mean landing a high-salary job right away—sometimes, it means getting creative in the short term.
- Remote or flexible work: Many companies now offer part-time or project-based roles that accommodate school pickups and parenting schedules.
- Freelancing or consulting: Do you have skills in writing, design, social media, tutoring, or administration? Sites like Upwork and Fiverr can be a gateway.
- Gig economy jobs: Driving for rideshare, delivering groceries, or offering local services can help cover urgent expenses while offering flexibility.
- Sell or rent what you’re not using: Platforms like Facebook Marketplace, Poshmark, or Turo allow you to turn unused items or cars into quick cash.
Even modest efforts can add up and give you back some much-needed financial independence.
Think Strategically About Career Moves
If you’ve been out of the workforce or are considering a career shift, now’s the time to ask: what kind of work do I want, and what’s realistic in my current life stage?
Returning to school, obtaining certifications, or working with a career coach may seem like big investments, but they can lead to more stable income in the long run. Grants and scholarships are available for women reentering the workforce—especially those who are newly single or head of household.
And don’t discount your volunteer experience, parenting, or past work—even if it’s been a few years. These experiences can be reframed as assets when applying for jobs or negotiating contracts.
Understand the Tax Implications
New income streams mean new tax obligations. Whether it’s freelance income, rental profits, or investment dividends, you’ll want to understand what needs to be reported and how to track it properly.
Keeping detailed records from the start can prevent headaches down the road. Consider setting aside a portion of all untaxed income for quarterly payments. A tax advisor can help you build a strategy that keeps you compliant and stress-free.
Rebuild with Confidence, Not Shame
It’s common for women to feel guilt or embarrassment about earning less, needing help, or starting over. But needing to rebuild your income after divorce is not a failure—it’s a courageous decision to move forward on your own terms.
Give yourself permission to start small. Whether it’s your first paycheck in years or the launch of a new venture, celebrate every win. You’re not just earning—you’re rebuilding a life that’s fully yours.
If you’re looking for help figuring out where to start, let’s talk. I’m Anastasia Herman—a licensed financial professional with New York Life, and I’m also going through a divorce myself. I know firsthand what it means to rebuild your income while managing uncertainty. With a background at State Street and BNY Mellon and a passion for helping women regain clarity and confidence, I’m here to walk this path with you. Let’s set up a time to chat—woman to woman.
Looking for more information? Connect today with Anastasia Herman!
